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1. The Bockner Company shipped merchandise to Laetner Corporation on December 28, 2011. Laetner received the shipment on January 3, 2012. December 31 is the fiscal year-end for both companies. The merchandise was shipped f.o.b. shipping point. Explain the difference in the accounting treatment of the merchandise if the shipment had instead been designated f.o.b. destination.
what are the three most common types of ratios? why are they important? which ratios would you use to determine the
Stevens Co. bought a machine on January 1, 2008 for $875,000. It had a $25,000 estimated residual value and a ten-year life. An expense account was debited on the purchase date. Stevens uses straight-line depreciation.
jane and blair are married taxpayers filing jointly and have 2014 taxable income of 97000. the taxable income includes
there are many parts to an hr department not just for the hiring process. theres the benefits office disability
crochet company allocates overhead based on machine hours. estimated overhead costs for the year total 390000 and the
Which of the following is generally considered to be a major reason for establishing an internal audit function?
Determine the follow- ing: (a) the amount of annual depreciation by the straight-line method and (b) the amount of depreciation for the first and second years computed by the double-declining-balance method.
delta company is evaluating two different capital investments project x and y. either x or y would cost 100000 and the
on june 8 alton co. issued an 76466 7 120-day note payable to seller co. assuming a 360-day year for your calculations
1.Air France KLM (AF) , a French company, prepares its financial statements according to International Financial Reporting Standards.
The present value of the minimum lease payments is $3,960,000. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 10%, how much interest revenue will Princess record in 2012 on this lease?
Do you believe one method is preferable to the other? Why? Would you change the accounting standard to require one or the other method? Consider the perspectives of both the user and the preparer of the financial statements.
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